Four of the best fund manager shareholder letters. By reading the last decade of these you can gain a real insight into the valuation techniques, risk management and philosophy underpinning four of the best fund managers in the world.

Notes from May conference call at First Eagle

Notes from a speech given by Mason Hawkins at Ben Graham Center for Investing in 2005 outlining his search strategy, DCF model and how to qualify good businesses.

Notes from two speeches given by Francis Chou at the Ben Graham Center for Value Investing

A lot of value guys are looking at Japan right now. Barron's runs a good analysis of ADK, a Japanese advertising firm, which it thinks could be a good value play.

How to differentiate between the two, and whether it's even necessary, when calculating free cash flow

Greenblatt's calculation of ROIC in TLBTBTM is a useful quick and dirty tool but when it comes to really analysing companies it may need some adjustments to give a clearer picture.

A profile of Seth Klarman protege and hedge fund manager David Abrams.

An old but useful slideshow on behavioral finance from a presentation by Whitney Tilson

Part Duo of the Italian Value Investing congress briefing...

Whitney Tilson's latest column for the FT

More tips on understanding what to do in the face of a market meltdown, assuming you have cash at hand to wade into the storm....

Alex bossert whips up a useful list of links to the interesting area of financial psychology. Useful reading for those trying to understand the emotions powering the current market tempest and the potential opportunities it throws up...

Mason Hawkins & Staley Cates give their wrap-up for the past six months and views on the state of the stock market and world economy.

Rick of the always readable value discipline shares his thoughts on the current market shake out...